below marketmost similar roles pay hereabove market
This role pays less than
99%
of similar roles. Most pay
$152,000–$214,900
— the blue band above.
At the midpoint, this role pays about
$86k
versus about
$183k
for comparable roles.
Based on 240 similar postings.
Employer
About Cognizant
Cognizant is a multinational IT services and consulting company offering digital transformation, technology, and business process services. It serves clients across financial services, healthcare, manufacturing, and other industries worldwide.
Cognizant currently has
330 open roles
on FindRole.
Listed pay typically runs
$100,000–$135,000
across 211 roles with salary data.
The Senior Product Specialist - Facets Premium Billing joins the Healthcare Payer team to design, configure, and optimize Facets capabilities across Finance, Billing, Claims, Provider, Plan Product, Membership, Group, and Premium Billing domains. This role involves leading configurations for premium calculations, payment processing, and financial reconciliation while managing end-to-end claims workflows and provider data. You will translate business requirements into scalable configurations, conduct impact assessments, and perform regression validation to ensure data integrity. Key technical skills include deep expertise in the Facets data model, rating structures, invoicing, and payment applications. The position solves complex healthcare payer problems by identifying process gaps, resolving production issues through root cause analysis, and maintaining documentation for compliant health plan operations, including Commercial, Medicare, and Medicaid plan support.
Lead the configuration and optimization of Facets Finance and Premium Billing modules for accurate premium calculations and reconciliation.
Manage end-to-end Facets claims workflows to ensure accurate adjudication and timely resolution of processing exceptions.
Configure and maintain Facets Provider data to ensure accurate network information and reimbursement rule integration.
Administer Plan Product configurations including benefit structures, rating methodologies, and coverage rules.
Support Membership and Group configuration activities to ensure eligibility accuracy and enrollment integrity.
Translate business requirements into scalable Facets configurations, functional solutions, and detailed configuration documentation.
Conduct impact assessments, regression validation, and user acceptance testing for premium billing and related enhancements.
Investigate and resolve production issues through root cause analysis and recommend sustainable corrective actions.
What we're looking for
6 to 10 years of experience working with Facets Finance, Billing, and Premium Billing functions within healthcare payer organizations.
Strong hands-on expertise with Facets Claims, Provider, Membership, Group, and Plan Product modules.
Deep knowledge of healthcare payer premium billing processes, including rating structures, invoicing, adjustments, payment applications, and reconciliation activities.
Strong understanding of the Facets data model and how core modules interact across integrated payer workflows.
Experience gathering business requirements and translating them into configuration designs, business rules, and testing scenarios.
Experience creating and executing test plans, test cases, and user acceptance testing activities.
Facets Certification (preferred); AHIP or healthcare payer-related certifications (preferred); Revenue Cycle Management or Health Insurance Systems certifications (preferred).
Facets
Claims Processing
Provider Management
Network Administration
Root Cause Analysis
Data Integration
Production Support
Adjudication Workflows
Benefits Administration
System Configuration
Digital Transformation
Regulatory Compliance
SQL
Oracle
Microsoft SQL Server
Relational Database Theory
System Administration
Scripting
Automation
Trade Life Cycle
Production Support
Stored Procedures
Performance Tuning
AI
Blockchain